Hyperdrive
Tesla Sold Only One Car in Korea in January
- EV sales are hurt by inflation to concerns about car fires
- Consumers await government announcement on subsidies
Tesla’s Model Y electric vehicle.
Photographer: Samsul Said/BloombergThis article is for subscribers only.
Tesla Inc. sold just one electric vehicle in South Korea in January as a raft of headwinds, from safety concerns to price and a lack of charging infrastructure, weigh on demand.
The company’s sale of a solitary Model Y SUV was its worst month since July 2022, when the Austin, Texas-based automaker sold no vehicles at all, according to data from Seoul-based researcher Carisyou and the Korean trade ministry. Across all carmakers, the number of new EVs registered in Korea fell 80% in January from December, Carisyou data show.